Credit Sesame

CreditSesame.com
Private
Industry Personal finance, Software
Founded 2010
Founder Adrian Nazari
Headquarters Mountain View, California
Area served
 United States
Products Credit scores, credit monitoring, identity theft protection, loans, credit cards, credit reports
Number of employees
 50
Website CreditSesame.com

Credit Sesame is an educational credit and personal finance website that provides consumers with a free credit score, free credit monitoring, and free identity theft protection.[1] No credit card or subscription is required to register or obtain the credit score, which is updated monthly. More frequent credit score updates and other premium features, like 3 bureau credit monitoring, are offered at a cost.

Headquartered in Mountain View, Calif., Credit Sesame launched in private beta at TechCrunchDisrupt 2010.[2] As of April 2016, the company's registered users have over $100 billion in loans combined, which Credit Sesame monitors and analyzes for potential savings on a daily basis.[3]

As of April 2016, Credit Sesame has over 8 million accounts.[4]

Founder and Financing

Credit Sesame was founded by Adrian Nazari, the company's Chief Executive Officer, who previously co-founded Financial Crossing, Inc. and served as its President and CEO. He was also CEO and Chairman of the Board at Financial Circuit, Inc.[5]

In March 2011, Credit Sesame announced that it had closed a $6.15 million second round of funding, led by Menlo Ventures and Inventus Capital.[6] The company closed an additional $12 million in funding in June 2012, and $16 million in May 2015.[7]

To date, Credit Sesame has raised $35.35 million in financing.[8]

Analytics

Credit Sesame analyzes consumers' credit profiles based on the information in their TransUnion credit reports.[9] As soon as a consumer's profile is created, Credit Sesame begins analyzing their current loans (including mortgage and credit card accounts) and looks for alternative loans. The mortgage and refinance loans Credit Sesame finds for its users are personalized, based on each individual user's credit file, the estimated value of their home, and the financial goals they have set up upon registration.

Lending 3.0

Credit Sesame announced the launch of new lending platform SnapLoan at LendIt USA in April 2016. SnapLoan accurately matches users with loans they are most qualified for, and simplifies the application process to just a few button clicks, similar to Amazon.com's "one-click" purchase option.[10]

See also

References

  1. ↑ Andriotis, Annamaria. "New Controversy for Credit Scores". SmartMoney.com. Retrieved 1 July 2011.
  2. ↑ Rao, Leena. "The List Of Startups Launching At TechCrunch Disrupt". TechCrunch.com. Retrieved 1 July 2011.
  3. ↑ Perez, Sarah. "Credit Sesame Adds Social Comparison Tools, Lets You See How Your Debt Compares With People Like You". Retrieved 13 July 2012.
  4. ↑ Schicktanz, Julie. "Credit Sesame Launches SnapLoan, The Amazon One-Click for Consumer Loans". Finovate. Retrieved April 11, 2016.
  5. ↑ "EXECUTIVE PROFILE Adrian A. Nazari". Bloomberg Businessweek.
  6. ↑ McDermid, Riley. "Personal finance tool CreditSesame nabs $6.15M in new funding". VentureBeat.com. Retrieved 1 July 2011.
  7. ↑ Perez, Sarah. "With $20 Billion In Consumer Debt Under Management, Credit Sesame Closes $12 Million Series C". TechCrunch. Retrieved 11 July 2012.
  8. ↑ "Credit Sesame | CrunchBase". www.crunchbase.com. Retrieved 2016-04-12.
  9. ↑ "Best Free Credit Report Site of 2016 - The Simple Dollar". The Simple Dollar. Retrieved 2016-04-12.
  10. ↑ Sesame, Credit. "Credit Sesame Announces Revolutionary "SnapLoan" Offering". www.prnewswire.com. Retrieved 2016-04-12.
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